Swiss pharmaceutical company Roche Holdings will cut 5,000 jobs after its $5.3 billion acquisition of Syntex Corp.
Combined, the two companies employ about 32,000 people in North America. Two-thirds of the cuts will take place in the United States.
Syntex bases its U.S. operations in Palo Alto, Calif. The U.S. division of Roche is Nutley, N.J.-based Hoffmann-La Roche.
Several drugmakers have announced layoffs in response to marketplace changes, particularly the growth of managed care.